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$1$ Assets

$2$ Liabilities

$21$ Accounts Payable

$23$ Unearred Revenue

$3$ Stackhalders' Equity

$31$ Comman Stack

$32$ Retained Earnings

$33$ Dividends

$4$ Revenue

Normal

$41$ Revenue

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$5$ Expenses.

$51$ Insurance Expense Debit

$52$ Supglits Expenst

$56$ Deprtiation Expenst Debit

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Annabug Designs, Inc designs personalized Ladybug motif bumperstickers. Baseed upon the following fact pattern complete the entire accounting cycle for the month of

December, $200x$

$1$ Record the following entries for the month of December in the General Journal $($GI$)$ pages $\sqrt[\phantom{2}]{11}$ and $I2$

Dec $,1$ Invested $$28,300$ cash in exharge for Cammon Stock

$1$ Paid cash $$28,800$ for $12$ manth insurance policy that maney could buy

$2$ Purchased office equipment for $$86,400$ on account

$10$ Billed elient $$2400$ for design wark

$20$ Purchased supplies worth $$2400$ on account

$22$ Received $$2400$ cash from custamer for future wark.

$29$ Paid cash to creditors $$2400$

$29$ Received $$2400$ cash from custamer paying down account.

$30$ Board of Directars declared and paid cash Dividend $$2400$

EXCLUDE THE DESCR:PTION

ALWAYS LEAVE A SPACE BETWEEN SEPARATE TRANSACTONS

$2$ Post to General Ledger $($GL$)$

$3$ Produce the Unacjusted Trial Balance

$4$ Record Adjusting Entries on Journal Page $3$

Des

$31$ Supplies an hand at manth end $50$

$31$ Offise Equipment Depresiates starighe line over $3$ years

$31$ Record insurarse expense for manth end

$31$ Earned $$2400$ of Unearned Revenue

$31$ Billed dient for $20$ hours design wark at $5240$ per hour

$5$ Post Acjusting Entries to the General Lestger $($GL$)$

$6$ Produce the Adjusted Trial Balance

$7$ Produce an Income Statement, Retained Earnings Statement and lalance Shet.

$8$ Record on Journal Page $4$ the closing of all temporary accounts directly into Retained Earnings

$9$ Post to General Ledger $($GL$)$

$10$ Produce the Post Cosing Trial Balance

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